Tech Talent Sees Promising Careers in Skill Gaming Industry
A recent report suggests that tech professionals view the online skill-based gaming industry as a promising sector with significant growth potential. The study, titled ‘Exploring the Potential and Reach of the Online Skill Gaming Sector: An Analysis Involving Technology Students and Experts,’ was conducted by the E-Gaming Federation in collaboration with the Indian Statistical Institute, Kolkata.
This survey, guided by two ISI professors, Diganta Mukherjee and Subhamoy Maitra, encompassed 4,644 engineering students and professionals across five states—Andhra Pradesh, Telangana, Kerala, Karnataka, and Tamil Nadu. Its objective was to investigate their views, aspirations, and inclinations regarding the online skill gaming sector.
Can we See a Degree in Gaming in the Near Future?
Approximately 72.5 percent of technology experts have shown keen interest in establishing careers within the sector. Furthermore, in Karnataka, 85 percent of respondents demonstrated a readiness to engage in professional education within the gaming industry, highlighting a robust enthusiasm for enhancing their skills and playing a role in the sector’s growth.
The research underscores that tech professionals acknowledge the online skill gaming sector’s potential, with 83 percent of those surveyed believing it could usher in a software revolution in the nation.
A Symbiotic Relationship Between Technology and Gaming
Maitra, a professor at the ISI, Kolkata, stated, “The research highlights the symbiotic relationship between technology and gaming. As the industry rapidly evolves, we have a unique opportunity to harness the creative potential of our youth and build a robust ecosystem that nurtures both technological innovation and economic growth.”
The Survey in Numbers
- 55% of the participants are attracted to the online skill gaming sector because of its emphasis on adopting technology and fostering innovation.
- 73% of the survey respondents are eager to enroll in professional education programs within the gaming sector.
- 42% have shown their interest in building careers in Artificial Intelligence and Machine Learning (AI and ML).
- 68% believe that engagement with the online skill gaming sector will contribute positively to enhancing their own skill sets.
The Tech Drain
Recognizing the importance of data science and AI in the online gaming field, a majority, precisely 63 percent, believe that existing courses need further customization to align better with the sector’s specific demands.
Given the trend of numerous skilled engineers pursuing higher education in the United States, the online gaming industry could potentially evolve into an exceptionally promising career option. It offers opportunities for skill enhancement and innovation right in one’s home country.
Govt Announces Uniform 28% GST on Online Gaming
The survey arrives at a time when the online gaming industry faces high taxation rates. In 2023, the Indian Parliament approved the required legislative amendments to implement 28% GST on online gaming. The GST will be applied to the entire amount of deposits made by individuals on online gaming platforms, in casinos, and at horse racing clubs.
Earlier the gaming industry used to pay GST on Gross Gaming Revenue (GGR) but now 28% GST will be applied whenever a player makes a deposit. The rule is expected to be implemented from October 1, 2023.
Online Gaming Industry in India Growing Rapidly
The online gaming industry in India is expected to experience substantial growth, increasing from $2.8 billion in 2022 to $5 billion by 2025, with an estimated compound annual growth rate (CAGR) ranging from 28 to 30 percent. Furthermore, the gaming industry has exhibited impressive expansion between 2017 and 2020, currently maintaining a CAGR of 38 percent.
While experts have noted that this will impact the industry it will also give a fighting chance to the companies to innovate and reorient. The rule will be reviewed six months after the implementation.
Innovation is the key
Technology and innovation are pivotal elements that consistently keep the gaming sector attractive to proficient engineers. In the survey conducted among engineers, 75% indicated a preference for pursuing careers in technology domains linked with 5G, the metaverse, virtual reality (VR), and emerging technologies. This underscores their strong inclination toward actively contributing to innovation within the online gaming industry.